Question

Which expression represents the growth of an investment of $2,000 at 4% per year for a period of t years?

2000t1.04
2000(0.04)t
2000(1.04)t
2000(1.4)t

Answer 1

Which expression represents the growth of an investment of $2,000 at 4% per year for a period of t years?

• 2000t1.04
• 2000(0.04)t
• 2000(1.04)t <<<CORRECT
• 2000(1.4)t

Explanation:

Edge 2021

Answer 2

2,000(1.04)t

Explanation:

To determine this answer, you would use the formula initial value (1 + interest) times the number of years. This would equal 2,000(1.04)t.